Dayforce Inc (NYSE:DAY) Receives $78.77 Average Price Target from Analysts

Shares of Dayforce Inc (NYSE:DAY) have received an average rating of “Moderate Buy” from the fourteen research firms that are presently covering the company, Marketbeat.com reports. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $78.77.

A number of equities research analysts have recently commented on DAY shares. Deutsche Bank Aktiengesellschaft increased their target price on Dayforce from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Piper Sandler reaffirmed an “overweight” rating and set a $94.00 price target (up from $82.00) on shares of Dayforce in a report on Wednesday, November 13th. BMO Capital Markets upped their price target on Dayforce from $80.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. KeyCorp upped their price target on Dayforce from $80.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Finally, Scotiabank began coverage on Dayforce in a report on Monday, November 18th. They set a “sector perform” rating and a $75.00 price target on the stock.

Dayforce Trading Up 1.4 %

NYSE DAY opened at $79.79 on Friday. Dayforce has a 12 month low of $47.08 and a 12 month high of $81.32. The stock has a market cap of $12.58 billion, a P/E ratio of 241.80, a P/E/G ratio of 3.70 and a beta of 1.27. The stock’s fifty day moving average price is $67.31 and its 200-day moving average price is $58.81. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.47.

Insider Activity

In other Dayforce news, insider Jeffrey Scott Jacobs sold 643 shares of Dayforce stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $63.37, for a total transaction of $40,746.91. Following the completion of the sale, the insider now directly owns 34,074 shares of the company’s stock, valued at $2,159,269.38. The trade was a 1.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Stephen H. Holdridge sold 2,000 shares of Dayforce stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $69.25, for a total value of $138,500.00. Following the sale, the chief operating officer now directly owns 98,437 shares of the company’s stock, valued at approximately $6,816,762.25. This trade represents a 1.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,643 shares of company stock valued at $460,877 in the last ninety days. Insiders own 4.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quent Capital LLC purchased a new position in Dayforce during the 3rd quarter worth $28,000. Financial Perspectives Inc purchased a new position in Dayforce during the 2nd quarter worth $28,000. Farther Finance Advisors LLC purchased a new stake in Dayforce during the 3rd quarter valued at about $40,000. Sentry Investment Management LLC purchased a new stake in Dayforce during the 2nd quarter valued at about $33,000. Finally, Quarry LP purchased a new stake in Dayforce during the 3rd quarter valued at about $51,000.

About Dayforce

Dayforce Inc, together with its subsidiaries, operates as a human capital management (HCM) software company in the United States, Canada, and internationally. It offers Dayforce, a cloud HCM platform that provides human resources, payroll and tax, workforce management, wallet, benefits, and talent intelligence functionalities; and Powerpay, a cloud HR and payroll solution for the small business market.